Understanding Irrevocable Trusts
A will is a written document, with formal signing requirements, through which you determine how your property will be distributed after your death. It establishes who will serve as your personal representative, and who will act as guardian and conservator for your minor children. A will allows you to make a centralized disposition of your estate in a single document.
For decades, Quinlivan & Hughes, P.A., has assisted individuals in St. Cloud, Monticello and throughout Central Minnesota in establishing their wills. To learn more about how we can be of service, call our firm at 320-200-4928 or arrange an appointment through our online form.
How Does A Trust Relate To A Will?
You may include trusts in a will to provide long-term protection of beneficiaries or for property management. Examples include trusts for the benefit of minor children or trusts established for estate tax planning. You may also include gifts to charities or other persons by a will, in the shares or amounts you choose.
The person you name as personal representative will administer your estate and carry out the provisions of your will. You may identify alternate personal representatives who may serve if your nominated personal representative cannot serve. Your property will be distributed by your personal representative through the court probate process.
Your will also allows you to name a guardian and conservator for your minor children when both parents are deceased. The guardian and conservator have broad powers to act on behalf of each minor child for matters such as housing, health care, education and finances. You may identify alternate guardians or conservators if your nominated guardian or conservator cannot serve.
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